Opening a Special Custody Account. Custodian shall open a special custody account on its books, such account to be entitled “Special Custody Account for Interactive Brokers LLC, for the benefit of [insert name of customer]; Collateral for Margin Account Transactions”, or in any similar name to reflect Broker’s interest in the Custody Account, (the “Special Custody Account”). Custodian shall hold in the Special Custody Account, upon the terms of this Agreement, all of the Collateral (subject to the Security Interest of Broker) and all monies or other property paid on or distributed with respect thereto (subject, however, to the rights of the Customer in or to any such monies or property set forth in Section 4(b) hereof) or realized on the sale of any portion thereof. Exclusively in the context of the UCC, the Special Custody Account shall be treated as a Securities Account (as defined in Section 8-501(a) of Revised Article 8) in the name of the Customer and within the sole dominion and Control of Broker, in accordance with the terms of this Agreement Customer, and Broker agree that all items of income, gain, expense and loss recognized in any Special Custody Account and all Collateral shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of Customer.
Opening a Special Custody Account. Custodian, in its capacity as a Securities Intermediary (as defined in Section 8-102(a) of Revised Article 8), shall open under the account governed by the Master Custody Agreement a separate special custody sub-account on its books, such account to be entitled “Special Custody Account for National Financial Services LLC, for the benefit of Wilshire Large Cap Core Plus Fund of the Wilshire Mutual Funds, Inc.; Collateral for Margin Account Transactions” (the “Special Custody Account”). Custodian shall hold in the Special Custody Account, upon the terms of this Agreement, all of the Collateral (subject to the Security Interest of NFS) and all monies or other property paid on or distributed with respect thereto (subject, however, to the rights of the Customer in or to any such monies or property set forth in Section 4(b) hereof) or realized on the sale of any portion thereof. The Special Custody Account shall be a Securities Account (as defined in Section 8-501(a) of Revised Article 8) in the name of the Customer and within the sole dominion and Control of NFS in accordance with the terms of this Agreement. The terms of the Master Custody Agreement, including those governing investment of cash, exercise of investment authority by the Customer or any investment manager(s), delivery and receipt of securities, cash or other property by Custodian in settlement of purchases, sales or other transfers or upon capital calls, redemptions, maturities, tenders and other corporate actions, and payments of the fees and expenses of the Custodian, shall continue to apply to the Special Custody Account, except to the extent specifically otherwise provided in this Agreement. For the removal of doubt, Custodian shall not have a lien or any rights of set-off with respect to any Collateral in the Special Custody Account. For the avoidance of doubt, this Agreement does not affect Custodian’s lien on all other assets, securities or accounts of Customer that are not held in the Special Custody Account established hereunder. In the event there are conflicts between the Master Custody Agreement and this Agreement, the provisions of this Agreement shall control.
Opening a Special Custody Account. Custodian shall open a special custody account on its books, such account to be entitled “Special Custody Account for Xxxxxx Xxxxxxx & Co. LLC, relating to Monteagle Enhanced Equity Income Fund, a separate series of the Monteagle Funds, a Delaware Statutory Trust. ; Collateral for Margin Account Transactions”, or in any similar name to reflect Xxxxxx’s interest in the Custody Account, (the “Special Custody Account”). Collateral shall be released only in accordance with this Agreement. Custodian shall comply with any instruction given by the Broker to transfer or redeem Collateral from or with respect to the Special Custody Account, or to sell or otherwise dispose of such Collateral, without the Customer's consent. Customer can substitute or exchange the cash, securities or similar property in the Special Custody Account only after Customer notifies Broker of the contemplated substitution or exchange and Broker Advises Custodian that such substitution or exchange is acceptable. Customer hereby grants a continuing security interest to Broker in the Collateral and the proceeds thereof (the "Security Interest") to secure its obligations to Broker under the Customer Agreement and this Agreement. The parties hereto agree that all property and assets (other than cash) held in or credited to the Special Custody Account will be treated as financial assets under Article 8 of the Uniform Commercial Code as in effect in the State of New York (the "UCC"). The parties hereto further agree that the securities intermediary's jurisdiction, within the meaning of Section 8-110(e) of the UCC, in respect of the Special Custody Account and the Collateral is the State of New York and agree that none of them has or will enter into any agreement to the contrary. Anything in this Agreement to the contrary notwithstanding, Xxxxxxxxx hereby agrees to comply with entitlement orders of Broker with respect to the Special Custody Account and any Collateral without further consent of Customer. Customer hereby consents to such agreement.
